/Buying or Leasing | Whats the Difference | Classic CDJRF
Is Buying or Leasing the
Right Choice for Me?
If you’re looking to get behind the wheel of a new car, you have two options for paying for it; buying or leasing. The one that’s right for you depends on several factors including your budget and how you plan to use your vehicle. Explore the benefits of both buying and leasing a car and if you’re still on the fence, stop at Ewing Chrysler, Jeep, Dodge, RAM and speak to one of our finance specialists about the affordable options available to you.
There many benefits to financing a new vehicle, particularly if you plan on keeping it for the long term. Buying makes sense if:
You have a high mileage commutes
You want to modify your vehicle
You want to sell or trade your vehicle later
You want to keep the vehicle for as long as it runs
Of course, there are downsides to buying a vehicle as well. When you buy a vehicle, your purchase contract is based on the full value of the car, so your payments will typically be higher unless you put a large down payment in place. And, because you’ll likely own the vehicle long after the warranty expires, you’ll be responsible for all major repairs.
Leasing has its own set of benefits which include:
Lower down payment requirements
Lower monthly payments
The ability to upgrade frequently
Lower sales tax at time of purchase
Easier to afford a higher quality vehicle
Major repairs usually covered under warranty
The downside of leasing is that there are mileage limitations. Drivers who exceed the limitations will have to pay additional fees. Drivers can also face wear and tear charges which can add up if the vehicle saw hard use. Because you don’t own the vehicle, your lease contract will likely prohibit you from making any modifications to it. And, of course, at the end of the lease term, you turn over the vehicle and get nothing in return.
Get a Great Deal at Ewing Chrysler, Jeep, Dodge, RAM Today!
Whether you choose to buy or lease your next new vehicle, you’ll find a great deal at Ewing Chrysler, Jeep, Dodge, RAM. Contact us today at (682) 226-6400 or stop by and speak to an associate at 1111 I-20 East Frontage Rd in Arlington Texas. We’re just a quick drive from Fort Worth and Grand Prairie Texas.